Kuwait Court of Cassation principle number 2868

Engaging in commerce is prohibited for a non-Kuwaiti unless he has a Kuwaiti partner or partners whose capital is not less than 51%. Article 23/1 of the Commercial Code. - The Economic Agreement between the Gulf Cooperation Council States, approved by the State of Kuwait pursuant to Law 5 of 2003 and effective from its publication in the Official Gazette on 24/3/2003. Its import. Equal treatment of Council citizens in any member State in the economic sphere, without differentiation or discrimination. The effect thereof. Priority of application of this Agreement's provisions where they conflict with the domestic laws and regulations of member States. - Commercial activity consisting of the conclusion of a lease between a Kuwaiti and a citizen of a Gulf Cooperation Council State after the Economic Agreement entered into force. Article 23 of the Commercial Code does not apply thereto. Its effect. No nullity. - 488 - Commercial - Nullity of payment:-